Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3B - CRISIS RESOLUTION FOR CS FACILITY LICENSEES  

Division 9 - Other matters  

Subdivision B - Other powers of Reserve Bank  

SECTION 849AB   RESERVE BANK MAY REQUEST ASIC TO MAKE RULES OR GIVE DIRECTIONS  

Rules

849AB(1)    
If the Reserve Bank reasonably believes that:

(a)    making a market integrity rule or CS facility rule (including a rule amending or revoking another market integrity rule or CS facility rule); or

(b)    giving or varying a direction under subsection 794AA(1) , 794AB(1) , 798JB(1) or 798JC(1) ;

is appropriate to manage or respond to a condition in section 831A being satisfied in relation to a CS facility licensee, the Reserve Bank may, by written notice, request ASIC to make the rule or give or vary the direction.

849AB(2)    
A request for ASIC to give or vary a direction must include a statement setting out the Reserve Bank ' s reasons for the request.